Multiple choice

Which form of business organisation has a separate legal entity?

  1. Hindu Undivided Family (HUF)

  2. Co-operative society

  3. Partnership firm

  4. Sole proprietorship

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A co-operative society after registration is recognised as separate legal entity by law. The income of co-operative society is legally taxable as per the Income Tax Act, 1961.